Families face soaring bills after Bank of England predicts inflation will hit 5% by April

The Sun says FAMILIES face more bills misery after the Bank of England yesterday predicted that inflation would hit five per cent next April.

The Bank says the cost of living — 3.1 per cent in September — will soar on the back of rising food and energy costs.

It believes inflation hit four per cent in October — and that increases are coming.

Despite the rising pressures on households and businesses, policymakers decided to hold interest rates at their record low of 0.1 per cent.

Experts had expected them to rise to at least 0.25 to keep inflation under control.

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